.png#keepProtocol)
- Eutelsat Communications press release (OTCPK:EUTLF): 1H Revenue of €572.6M (-0.2% Y/Y).
- Second Quarter revenues stood at €298.7 million up 3.7% like-for-like. Revenues of the four Operating Verticals stood at €298.6 million, up 3.9% year-on-year on a like-for-like basis, and up 5.4%4 quarteron-quarter.
- The backlog stood at €3.9 billion on 31 December 2023 versus €3.7 billion a year earlier.
- Adjusted EBITDA stood at €365.6 million on 31 December 2023 compared with €419.0 million a year earlier, down by 12.7%. The Adjusted EBITDA margin stood at 64.1% at constant currency (63.8% reported) versus 73.0% a year earlier.
- The net debt to Adjusted EBITDA ratio stood at 4.13 times, compared to 3.55 times at end-December 2022 and 3.35 times at end-June 2023.
- Nevertheless, this dynamic will not suffice to close the gap relative to our near-term expectations, and in consequence we are adjusting our financial objectives for FY 2023-24 as follows: Revenues are now expected in a range of €1.25bn to €1.3bn (versus €1.32bn to €1.42bn previously).
- Adjusted EBITDA is expected in a range of €650m to €680m (versus €725m to €825m previously).
- Cash capex for FY 2024 remains expected in a range between €600m and €650m after synergies; for the period FY 2025 to FY 2030, the integration of the revised capex budget for OneWeb NextGen means cash capex7 is now expected between €600m to €700m on average per annum (versus €725m to €875m per annum previously).
- We also continue to target leverage of c.3x in the medium term.
Eutelsat Communications reports 1H results; initiates FY24 outlook
4 min read
.png#keepProtocol "The Key to Boosting Retention")
5 min read
9 min read
More Stories
The Key to Boosting Retention
Kim Jong Un Unveils Ambitious ‘Regional Development Policy’ To Modernize Rural North Korea Amid Food Shortages
Industry Leader Revolutionizes Business Financing Through Credit Stacking